Quick Intake
Hello All, in this post, let us see how the blockchain-based fundraising is helping the donors assure of HOW THEIR DONATION IS BEING SPENT for fighting against Coronavirus virus.
As the blockchain uses DLT – Distributed Ledger Technology, the transactions are visible to all the participants and assured of tracking the genuine purpose of spending.
Hyperchain has announced the launch of its blockchain-based platform to fight against the coronavirus epidemic which will serve as a medical supply donations portal to support hospitals in central China.
The similar concept is used in issue of Corporate Bonds and Tracking the Government Expenditure use cases.
Happy Reading…
The recent outbreak of coronavirus has killed more than 400 people in mainland China. The entire country and Chinese citizens overseas have been mobilized to donate. But doctors are still not getting enough crucial medical supplies. Red Cross China has come under fire for failing at delivering urgent supplies to the front line hospitals.
Together with Fuxing Group, Xiongan Group, and other well-known enterprises, Hyperchain has prepared to build a platform to ensure the donation process is immutable, traceable and reliable.
It will be a transparent portal for information exchange and allows donors to see more thoroughly where their funds or donations are going.
It will provide proof of need and proof of receipt to ensure that the donations reach immediately to the intended party.
Hyperchain, Hangzhou Qulian Technology Co., Ltd, established in 2016, is a high-tech company that provides technical products and application solutions to the blockchain. It specializes in developing the underlying blockchain platform, data sharing, and security platform, BaaS platform, supply chain finance SaaS platform and digital evidence service platform.
Blockchain is believed to have a quantum leap after the epidemic
The People’s Daily reported on Feb. 4 that the blockchain technology along with the internet, big data and AI will be one of the applications that will be implemented to improve administrative functions.
“The modernization of the national governance system and governance capacity inevitably requires the modernization of government governance system and governance capacity. The modernization of the government governance system and governance capacity requires the improvement of the national administrative system.”
Censorship and lack of transparency have been one of the most debated issues during the epidemic outbreak. This has been a wake-up call as to the need for a more transparent and credible mechanism-based society.
